Congressman Ed Perlmutter (D-CO) was appointed to two subcommittees of the exclusive House Financial Services Committee. Perlmutter will sit on the following subcommittees:
• Capital Markets, Insurance and Government Sponsored Enterprises, Chair: Rep. Paul E. Karjorski, (D-PA); and
• Financial Institutions and Consumer Credit, Chair: Rep. Carolyn B. Maloney (D-NY).
As a member of these subcommittees, Perlmutter will be able to draw on his expertise and work as a bankruptcy attorney to ensure that Colorado and our nation’s financial markets are stable, secure and meeting the needs of consumers and small businesses.
Perlmutter states, “In Colorado, and especially in the 7th Congressional District, we are seeing rising foreclosure rates and predatory lending schemes that are harmful to the hardworking people in the middle. Both of my subcommittees will deal with these and other complex issues that impact our financial strength and security as consumers and business owners. Ensuring the stability, soundness and responsibility of our financial institutions is the bedrock of our economic viability.”
The Capital Markets, Insurance and Government Sponsored Enterprises subcommittee will have jurisdiction to watch over and regulate the nation’s capital markets, securities and insurance industries, as well as government-sponsored enterprises such as Fannie Mae and Freddie Mac. The committee has oversight of the Securities and Exchange Commission as well as the self-regulatory organizations that police the securities markets.
The Financial Institutions and Consumer Credit subcommittee will have oversight of banks, depository institutions, deposit insurance, and the overall safety and soundness of the banking system.
“I look forward to working on these subcommittees to meet the needs of the financial institutions while protecting the rights of consumers and investors,” Perlmutter said.
